Essay: Management Critically Evaluate the Usefulness

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SAMPLE EXCERPT:

[. . .] Manager has a core role to play in the tactical planning because it is the task of management to comprehend and supervise the association between stakeholders of the company and external environment. Therefore, consider the new opportunities and changing environment requires a well-organized strategy planning and effective managerial decision (Bazer 2006).

As competitive advantage is define as the key strength of the business, which is well-organized and direct towards accomplishments. When this advantage is dominant to those of rivals, they are said to be distinctive advantage. It should meet three main tests which are as follows:

Unique Competition

Customer value

Extendibility

The managers of different divisions' work with their team members to establish programs, appropriate procedures, budgets, and implementation of strategies. They also play their role effectively to attain synergy among the efforts of different divisions in order to develop and maintain the core competency of the company. In this way, organizations usually go for acquisition and grow their business successfully (Bazer 2006).

Involvement of different stakeholders

It is essential to understand the accountability of stakeholders in which their involvement takes place. The revenue, functionality, rules, status, compliance, etc. are the areas where they can demonstrate their responsibility and establish conditions (Drummond 1996).

Organization should have focus and flexibility

Every company has its own value, culture, vision, mission, and certain objectives. In the beginning these factors are identified by the founder to understand the basics. As cultural issues are more sensitive such as Chinese culture which contains sensitive feature regarding business deals. They believe more on making strong association among business partners. Another example, when Dave and Bill Hewlett came into business they were unaware of many issues regarding uncertainties. By the passage of time their business grew up, and they recognized that there is a lot of stuff they had to take into consideration (Jennings & Wattam 1998).

The collaboration between business networks and their managers must be strong.

In this fast changing world businesses need to be flexible and focused.

The ability of manager to work well with people; and focus on the definite goal set to fulfill company's objective.

Organization should learn the strategy

Managers are free to make rational decision, when they take future tactics into consideration, it may seem that the options are clearly made by manager. Effective strategic options have to be full of challenges in order to keep ahead of rivals and accomplish the target. For example, when organizations pick an option for product/service and market they usually evaluate through the model of Igor Ansoff. It demonstrates the development and diversification of related and unrelated product/service, they focus on how to penetrate in the market, and explore new ideas. The part of analysis is significant for all managers before anticipating an idea, and also analyzes needed resources and skills for the prospective plan (Drummond 1996).

Conclusion

Strategic decision making helps manager in formulating the effective outcome with the help of certain activities, which is directly proportional to the company's aims and objectives. As Strategic supervision gives managers a course of action which investigates the long-term performance of the company. It involves the scanning of environment, strategic formulation, strategic implementation and assessment. They should be capable of handling various tasks, and able to allocate resources in an effective way. It means managers must have effective plan, which demonstrates the alternatives between choices, and execution of the best option to resolves issues. Companies always need effective managers because they want them to make prompt decision with rationale to overwhelm adversity.

References

Bazer. M 2006, 'Judgement in Managerial decision making', Ed. 6th, New York, Publisher, Wiley.

Bontempo, R., Lobel, S. & Triandis. H 1990, 'Compliance and value internalization in Brazil & the U.S. Journal of Cross-Cultural Psychology', 20, pp., 200-213

Cooke, S & Slack, N 1991, 'Making Management Decisions', Ed. 2nd, Publisher, Prentice Hall.

David Hunger & Thoman L.Wheelen 2010, 'Strategic Management and business policy' Ed.12th, Saint Peterburg, Florida, Publisher, Prentice Hall.

Drummond, H 1996, 'Effective Decision Making', Ed. 2nd, Kogan Page.

Johnson & Scholes 2008, 'Exploring Corporate Strategy', Ed. 8th, Canberra, Publisher, Prentice Hall.

Jennings, D & Wattam, S 1998, 'Decision Making; An integrated approach', Ed. 2nd, Pitman.

Marx R, Zilbovicius & M, Salerno M.S 1997, 'The modular… [END OF PREVIEW]

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